Exam2 Flashcards
Why is Prospecting necessary?
- Replace lost customers
2. To increases business
Name two goals dealing with market growth and define each.
- Penetration - increasing the percentage of total customers
- concentration - increasing the percentage of a customers business
List the eight steps of the selling process.
- Prioritize prospects
- Develop selling strategy and call plans
- Build relationships
- Uncover account needs, opportunities, and values
- Present a solution or “value bundle”
- Answer question and overcome objections
- Close the sale
- Follow up to ensure satisfaction
Define segmenting.
Grouping people by like characteristics
What is a prospect priority index?
A system to rank prospects
When does prospecting end?
When you retire
What is key account?
A customer deemed to be of great importance to your company
List the eight basic steps in an account strategy.
- Collect information about the account’s history
- Learn the account’s business needs and goals
- Set account goals
- Describe how to use your support resources
- Present a value bundle that meets account goals
- Implement the plan
- Measure satisfaction
- Revise account goals
List the six steps of the customers buying cycle.
- Awareness of need
- Evaluation of alternatives
- Decision on products or services
- Product / service use
- Evaluation of results
- Select future action
List the six steps of the selling cycle.
- Learn about the customers needs
- Present benefits of your value bundle
- Ask for the sale
- Support use of the product/service
- Evaluate customer satisfaction
- Ask for continued business or readjust offer
List 4 things a salesperson’s value bundle must do.
- Meet customers business needs
- Differentiates you from the competitor
- Be profitable
- Help achieve your territory goals
Define a satisfied customer
A customer whose expectations have been met or exceeded
What are the 5 steps for planning and conducting a sales call?
- Set objectives
- Plan call flows
- Describe desired result
- Evaluate progress and adjust strategy
- Follow-up
What is the foundation for every successful sales call?
Relationship with the customer
What 5 things must be done to open a call successfully?
- Create a positive impression
- Get the prospects attention
- Arouse interest
- Build rapport
- Bridge to a discussion of needs
What is the biggest single factor that determines the nature of how each call is opened?
The relationship
What three adjustments must a salesperson make to create a positive impression and build a relationship with a customer?
- Meet Relationship expectations
- Meet cultural norms
- Meet personal behavior norms
List 5 non-verbal signals that impact your relationship with a customer.
- How you arrive
- How you look
- How you greet the customer
- How you talk
- How you act
List 2 reasons that it is important to park “in the back.”
- Not take a customers parking spot
2. Get organized before a customer sees you
List 2 important rules to follow when conversing with a customer of prospect.
- Keep comments positive
2. Never Gossip
In establishing the right impression, what are 5 concerns about clothes?
- Be clean
- Fit well
- In style
- Fit occasion
- Right shoes
List 3 rules when shaking hands.
- Firm
- Web to web
- Be sensitive to those who do not want to shakes hands
List the 4 types of communication styles discussed in class.
- Controlling
- Advocating
- Analytical
- Facilitating
Define probing.
Activities used to uncover customer needs, values (solutions), and expectations
When visiting with a prospect what 6 areas should be probed?
- How buying decisions are made
- Business/production goals
- Business/production practices
- Expectations
- Current loyalties
- Unmet needs and expectations
List the four types of questions to use when probing.
- Closed questions
- Open Questions
- Confirming or clarifying
- Commitment questions that move the call forward and to the sale
What 4 aspects of the buying decision should the sales person uncover?
- Who makes the buying decision
- Who influences the decision
- How fast a decision is made
- What does the customer consider
When building a question flow, what 4 subjects must be covered?
- Situation
- Problem
- Implication
- Need pay off
Define Prospecting.
Process of identifying and obtaining new customers.
List 5 common reasons salespeople don’t listen well.
- Bored
- Don’t care about the speaker or his/her opinions
- Think they already know what the customer is telling them
- Can’t focus for very long
- Thinking the next thing they want to say
What 3 types of information must a sales person listen for?
- Facts (words)
- Feelings (emotions)
- Non-verbal cues (body language)
A good presentation requires understanding a customer’s:
- Business needs
- Personal needs
- Communications style
- Type buyer
During the presentation what 4 things do you want to accomplish?
- Build rapport
- Make selling points
- Create understanding
- Get agreement
Why is it important to keep a customer involved in the presentation?
- Reinforces that the decision is theirs
- Reinforces the sale as a problem solving process
- Allow objections and misunderstanding to be uncovered
What 4 things do you want to convince the customer the value package does?
- Solves problems
- Meets needs
- Satisfies wants
- Improves profits
Give an example of translating features Features into Benefits.
Because of (this feature) you will be able to (advantage) which means (you gain this benefit)
Why should the FAB Approach be used?
- Answer questions
- Inform
- Overcome Objections
What steps should be used when using the FAB?
- Present feature
- Present advantage
- Present benefit
- Obtain agreement
- Go to next FAB or close
Resistance offers what 3 opportunities?
- Answer a need or question
- Provide more information
- Provide more reasons to buy
Define active resistance.
Vocalized objections and reasons not to buy.
When should you quit the sale?
When you have honestly uncovered all the needs and your value package is not good enough.
What are 5 general rules for handling objections?
- Handle when it comes up
- Always accept as valid
- Be tactful
- Avoid arguments
- Know when to quit
List the 4 steps of handling most objections.
- Listen
- Restate
- Ask for more information
- Handle the objection
List 6 techniques for handling objections.
- Use feel felt found
- Find out what caused the objection
- Turn the objection into a selling point
- Counter with a question
- Agree when appropriate
- Deny the objection when appropriate
What is the close?
When the call objective is accepted of rejected.
What are the 3 guidelines that should always be followed when closing a sale.
- Show confidence
- Be assertive
- Always ask for a commitment
When is it time to close a sale?
When the customer is willing.
What is a trial close?
- A question midway through the presentation to determine where the prospect is in the buying process
- A suitable invitation to buy
What is the major Don’t of selling?
Apologizing into a close
List the 5 commonly used techniques to close a sale/
- The direct close
- The summary close
- The choice close
- The assume close
- The special feature close
After a successful close, what three things should a salesperson immediately do?
- Reinforce the buyers decision
- Manage expectations
- Make sure the next step is clear
What are the two choices in the choice close?
Buying and buying
How is customer satisfaction achieved?
Provided a value bundle that meets the customers expectations at a fair price.
What are the 8 steps to the Planning and Strategy process?
- Mission/vision
- Situation analysis
- SWOT
- Marketing objectives
- Segment, target, focus
- Market mix strategies
- Action plans
- Measure results
